Assistant Director - Cost Control & Budgeting

Bachelor of Technology/Engineering (Civil)

Nationality: Any

Vacancy: 1 Vacancy

Job Description

Job Purpose:

To play a pivotal role in managing and optimizing the financial performance of real estate development projects, maintain commercial information and ensure compliance with approved budgets and contractual requirements in order to ensure project target cost objectives are achieved.

Key Accountabilities:

1. Support Development Directors across projects to prepare annual budgets.
2. Manage cost control procedures and systems to monitor project budgets and expenditure with Project Management Companies and Cost Consultants for new master development projects.
3. Monitor project costs throughout the project lifecycle, identify budget variances and analyze its impact on project profitability.
4. Identify cost variances and recommend corrective actions to mitigate financial risks.
5. Examine financial data to ensure projects remain within budgetary limits.
6. Establish cost baselines and ensure alignment with project financial objectives.
7. Optimize design solutions for cost-effectiveness, ensure value-for-money through the best-fit technical approaches, and implement value engineering and commercial risk management strategies.
8. Conduct regular audits and reviews to ensure adherence to cost control procedures and compliance with financial regulations.
9. Collaborate with procurement and vendor management teams to negotiate favourable contracts and pricing terms.
10. Negotiate with vendors and suppliers to achieve cost savings while maintaining quality standards.
11. Prepare cost & budget reports, detailed presentations, file notes and other materials for internal and external stakeholders.
12. Continuously review and improve cost control and budgeting processes.
13. Leverage technology and tools to enhance efficiency in financial management.

Key Performance Indicators: As specified in the Performance Scorecard/Objectives.

Key Interactions:

Internal: DH and its verticals as required.

External: Cost and Design Consultants.

Desired Candidate Profile:

• Graduate in Civil Engineering.
• Minimum of 10 to 12 years experience in a similar field in UAE.
• Experience working on large master plan communities will be preferred.
• Dubai/UAE Experience preferred.

Job Specific Skills:

Functional Knowledge:

• Reporting and Analysis.
• Advanced skills in Excel.
• Experience in reporting and software tools.

Technical Competencies:

• Leadership and mentoring skills.
• Excellent planning and organizational skills.